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ProKidney’s REACT therapy aims to serve a significant portion of diabetic patients, with an estimated 20%-40% suffering from CKD. Morgan Stanley’s report indicates that recent adjustments in the development program are likely to delay ProKidney’s path to market, with a projected commercial launch in 2029.
The report also points out that ProKidney’s current financial runway is expected to last until the fourth quarter of 2025, suggesting that the company will require additional funding to see through the completion of its Phase 3 proact 1&2 trials.
The analyst’s commentary also touched on the company’s management updates, noting that an interim analysis from the proact 1 & 2 studies seems improbable at this stage. This information may be vital for investors tracking the progress and potential of ProKidney’s clinical trials.
The Equalweight rating by Morgan Stanley reflects a neutral stance on the stock, with the price target of $3.00 indicating the firm’s valuation expectations for ProKidney shares. As ProKidney continues to navigate its clinical trials and seeks further funding, investors and stakeholders will be watching closely for any developments that could impact the company’s trajectory and stock valuation.
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